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Weekly market wrap Aug. 24, 2018: U.S. indices at record highs as Fed signals rate dovishness
9/21/2018 6:02:20 PM
HOME : FEATURES : COLUMNS : Weekly market wrap Aug. 24, 2018: U.S. indices at record highs as Fed signals rate dovishness
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By Fund Library News Wire  | Friday, August 24, 2018


 

By Mike Keerma

Stock markets edged up slightly on the week, as traders discounted the political shenanigans in Washington and focused on economic fundamentals, particularly in U.S. markets, where sentiment was buoyed on Friday by what were viewed as dovish comments from Federal Reserve Board Chairman Jerome Powell. His stated view that monetary policy should be normalized gradually helped boost the Dow Jones Industrial Average to an intraday record high. The Nasdaq Composite Index ended Friday with a record high close of 7,945.98, for a weekly gain of 1.7%. The S&P 500 Composite Index advanced 0.9% on the week, its second straight weekly gain, also posting a record high close of 2,874.69 on Friday. Gains in the gold and energy sectors lifted Toronto’s S&P/TSX Composite Index to a 0.2% weekly gain, as gold rose 1.8% on the week and crude oil surged 4.2%.

FUND NEWS

* RBC launches three new bond pools. RBC Global Asset Management Inc. last week debuted it RBC Fixed Income Pools. The pools are offered in Series F and have a management fee of 0.40%. They are available to investors through full-service investment dealers.

RBC Conservative Bond Pool focuses on shorter-term investment-grade Canadian bonds and modest amounts of diversified global investment-grade, high yield, emerging market debt and emerging market currencies.

RBC Core Bond Pool holds core global investment grade bonds and higher-yielding assets.

RBC Core Plus Bond Pool has increased exposure to core global bonds, high yield corporate bonds, convertibles, and emerging market currencies, corporate and sovereign debt.

According to an RBC release, each pool has a base of Canadian investment grade bonds. Global government, corporate, high yield and emerging market bonds are layered on to enhance yield and diversify risk. For added diversification, each pool also holds emerging market and developed-market currencies such as the U.S. dollar. Pools are actively managed to adapt to current and expected market conditions.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.

Disclaimer

© 2018 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

 
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